Quantcast Uaw And Gm Both Hypocritical
Search by tag or site Login to my blogStart my own blog















TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Financial Skeptic

Accentuating the caveat emptor with critical commentary concerning investor relations and financial communications. I look at how information is (mis)managed and manipulated thereby creating possible investors losses.

Uaw And Gm Both Hypocritical

Posted on 09/24/2007 19:23 PM | Link | Post Comment
On Monday Sep 24 at 1100 ET UAW members struck GM (GM) plants. Ford (F) and Chrysler continue to churn out cars that not enough people want. The Big Three in Detroit and the union need to solve the health care issues before it consumes all of them forever. GM has an ugly unfunded health care liabilities of approximately $50 billion and climbing on their balance sheet.

The union could not bring itself to reach a deal in probably the most important negotiations they have ever had. The membership understands there is an ugly problem but they do not want to face reality.

The company needs cover to point to a difficult union situation. This will take the spotlight away from management problems such as design and market share.

The union is saying they want security. But the current working membership of UAW is a fraction of what it was ten or fifteen years ago. Those are real job loses and the union only now wants to go on strike.

Management needs to say we tried but they would not listen to reason. There are two groups which have taken the pain over the past ten or so years. The common worker and the common shareholder. So far the prescription of pain seems to be continuing.

Both management and the union have pulled the pin on the hand grenade and are passing it back and forth; hoping that the sweat on your hand .....well you know.

As negotiators they need someone to impose a deal. In the meantime the foreign car maker with plants in the US will continue to eat Detroit's lunch.
Stock Quote or
Examples
ATM Wallstreet - Mon Oct 06, 2008 03:39PM
Made several great trades today. Traded the QID, QQ [read more]
ATM Wallstreet - Sat Oct 04, 2008 10:41PM
When I first started Day Trading I traded anything that [read more]
ATM Wallstreet - Tue Oct 07, 2008 10:07PM
Today we have the Fed speaking and release of Fed mi [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.